As my long time followers know, I reached trader notoriety from being able to start with an $800 trading account and turning it into a $1.4 million fortune. I did this by simply trading the Forex and Crypto markets in 2017, and I hit my peak in just under a year.
I have had a lot of naysayers and non-believers saying that this is simply not possible. Well I am here today to OFFICIALLY state that I am going to do it again.
I just finished strategically moving $800 to freshly opened trading accounts, and I am going to document every single trade I take until I hit my trading goal of $1.4 million-- recreating the phenomenon that so many seem to think is impossible.
My name is Michael, and I have been a trader for over 15 years. So if you want to follow along with this trading challenge, keep the following in mind:
I agree with my critics when they say that it is extremely unlikely for a NEW trader to repeat this process. So when you see me taking larger risks, know that it is because I am experienced. If you follow foot on every trade, you will lose. Simple as that.
I know when to get in and out. I know where to set my stop losses. I can cut my losses quick or double down when necessary.
It’s a high risk, high reward game. I have tried just about every business out there, and nothing suits my personality better than being a professional trader.
I work when and wherever I want. I have no boss (except for my wife). I have no employees, I am a one man show. What I love most of all: I don’t have to deal with a single damn customer.
I literally create money by leveraging the assets I already have-- simple as that.
And if you follow closely, I’ll show you can achieve what I have with as little as $800.
I put $100 into Coinbase due to massive pump potential within the crypto market. Coinbase has been adding Alts at a crazy pace, and back when it was a bull market, they would pump nearly 10X in such a short time span.
Coinbase will be for position trading where I plan to take a trade and leave it for a year if necessary, only to reallocate funds to un-pumped coins.
I put $200 into Binance due to them being a market leader within the Crypto space. Any coins listed here also have massive pump potential.
My strategy will be to use my 3Commas bot that I have perfected to day trade alts to accumulate as much BNB as possible. I am very bullish on BNB, more so on BTC so I want to get as much as I can while it is still cheap.
FXChoice is my Forex broker due to them being an ECN broker, which means they DO NOT bet against their users. I have used them for years and they have not let me down once.
The trade strategy I plan to use is swing trading (my specialty) major Forex pairs. Each position will be open for anywhere between days to potentially months.
I put most of my funds in FXChoice to get the most out of the 200:1 leverage FXChoice offers. Please take note, beginner traders should not risk more than 1% of their account value per trade; however, since I am experienced, I will risk anywhere between 3-5% (see how, even with all my experience, I still won’t go all in).
Once I hit $35,000, I plan to reallocate funds so I can trade the stock market. I’ll need at least $25,000 in my stock market account so I don’t get hit with the Pattern Day Trader rule.
Excalibur: for those of you who don’t know, excalibur is a trading indicator I coded using my trading strategy. This is absolutely necessary for my Forex swing trades.
3Commas: It’s impossible for me to trade 24 hours per day in a 24 hour market. I have to sleep sometime. I have a simple accumulation strategy that I perfected using 3Commas, and I will use a bot to trade my Binance account for me. (If you're interested in using bots to trade, check out 3Commas here: 3Commas Link
TradingView: I have the pro-TradingView account to make sure I get every alert possible and never miss out on a trade. One missed trade can set me back months, so alerts are extremely important.
Yes I know, why 5 years when I did it in under a year the first time, right? Well market conditions are unpredictable, variables change. I may be able to complete it under a year, but if I don’t I am not just going to give up. I will keep persevering until the challenge is complete.
Be sure to subscribe to my Weekly Watchlist so you know exactly what trades I am planning to take for the following week. My watchlist will give you a first hand glimpse into a professional trader’s mind.
You will know why I take trades, what levels I plan to enter and exit. Also get weekly recaps on last weeks trades.
Don’t worry, I’ll still update the blog as well, but that will be minimized down to only a quarterly recap. After all, it takes time to write these things, and I have to make $1,400,000… there just isn’t enough time in the day.
So sign up now, cause I assure you, it is going to be one hell of a ride!
There are affiliate links listed in this post, where Margin Hero makes a very small commission. These funds are strictly used to help support admin costs associated with owning a website. In no way are these funds being used or applied towards the trading challenge.
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